TechVest introduced and coordinated the most recent $12.8 million funding round in 2003: ePAC Set to Grow Lead With $12.8M 2nd Round of Funding
SAN LEANDRO, Calif. and MENLO PARK, Calif., Sept. 19 /PRNewswire/ --
ePAC Technologies, Inc., a developer of digital printing automation technology, announced the closing of its B round of equity financing in an
oversubscribed $12.8 million round led by Menlo Ventures with current investors participating.
ePAC automates the print production process to reduce and ultimately eliminate the set-up and transaction costs that
are part of every manufacturing process. The company has had 12 consecutive profitable quarters.
Doug Carlisle, managing director, Menlo Ventures, now joins ePAC's board of directors.
"ePAC has
brought tremendous savings to its customer base -- the top companies in Silicon Valley. It has flourished through the tech downturn by delivering millions in cost savings through the application of its proprietary
technology," stated Carlisle. "During ePAC's first four years, it has flawlessly continued to roll out its industry-leading technology. This gives ePAC a considerable lead in its industry, and has earned them
incredible endorsements from their customers."
"ePAC has thrived where the other providers are struggling for survival. This lets ePAC use the new round of funding to expand its already substantial lead
and to bring new technology to market that could produce the biggest breakthrough in print manufacturing in the last 100 years," added Carlisle.
"We chose Menlo as our partner because of their clear
focus and commitment to helping us deliver a great solution for our customers," said Mr. Sasha Dobrovolsky, president and CEO, ePAC. "Our excellent results to date have come from consistently working with our
customers to redesign their supply chains. Using ePAC's technology has allowed our customers to consistently exceed the cost savings metrics that we set with them. This backing from Menlo allows us to accelerate our
technology development still further and to furnish current and future customers with innovations they have up till now scarcely dared dream of!"
About Menlo
Menlo Ventures provides long-term capital
and management support to early stage and emerging growth companies. The firm looks for combinations of management, market opportunity, products or services that create the potential for an exceptional rate of return.
Since its inception in 1976, Menlo Ventures has organized and managed nine venture funds with combined capital of $2.7 billion. Menlo has invested in over 270 companies since its founding.
About ePAC
ePAC
develops automation technology for digital printing. ePAC operates on a service model, focusing on the elimination of waste in its customer documentation and collateral supply chain. This runs from the management of
content to the engineering of automated systems. By using ePAC's technology, customers can virtually eliminate inventory and obsolescence. ePAC's technology has already resulted in substantial cost savings for many of
the top companies in Silicon Valley. ePAC also currently licenses its first generation technology to partners in Asia and Europe, thus providing customers a global solution.
CONTACT: Sasha Dobrovolsky, president and CEO of ePAC Technologies, Inc., +1-510-317-7979
Web site: http://www.epac.com/
Copyright 2003 PRNewswire
Issued: 09/19/2003 01:29 PM GMT |
